760 Ind. Admin. Code 2-20-32.5
Current through May 29, 2024
Authority: IC 27-8-12-7.1
Affected: IC 12-15-2; IC 12-15-39.6
Sec. 32.5.
As used in this rule, "state-set dollar amount" means the least amount of maximum benefit a policyholder or certificateholder must initially purchase in a qualified policy or certificate to be eligible for a total asset disregard. The state-set dollar amount begins at one hundred forty thousand dollars ($140,000) for qualified policies with an effective date of 1998 or earlier. The state-set dollar amount will increase each year on January 1 by five percent (5%) compounded annually, rounded to the nearest one dollar ($1) increment, and applies to new policies effective during each calendar year.
760 IAC 2-20-32.5